You're not getting screwed by billionaires and plutocrats. You're getting screwed by Mom and Dad.
Systematically and in all sorts of ways. Old people are doing everything possible to rob you of your money, your future, your dignity, and your freedom. ...
As a point of fact, retirees aren't particularly "independent" if they rely on tax dollars for income, are they? But here's the real rub, kids: You're getting screwed by Social Security, a program that is now more sacrosanct to aging boomers than Sgt. Pepper's Lonely Hearts Club Band. You're paying more into the system than you're ever going to get out. No wonder it's mandatory. C. Eugene Steuerle and Stephanie Rennane put out a study for the Urban Institute last summer that should have caused far more riots than anything that happened at Zuccotti Park. They document that folks making average wages who retired in 2010 will get a raw deal over the coming decades. The deal will only get worse if you retire in, say, 2030. Read it and weep, kids, and don't believe it when old people who are either already on Social Security or about to join that club tell you it's part of a generational bargain that can't be changed even if retirees are totally wealthy compared to you.
Just last month I wrote that we need to dramatically increase the retirement age right now.
I agree that rapid changes to the retirement system will be disruptive for current and near-term retirees, but I don't care. Just because they've built their lives around the prospect of looting and pillaging my generation doesn't mean that they're entitled to succeed. They're attempting to use democracy to transfer a massive amount of wealth from my generation to theirs by borrowing money to spend on themselves that we are going to have to pay back. I say no! I say that we link the Social Security retirement age to longevity and push it back dramatically effective immediately.
Just because Boomers are using democracy to rob us doesn't make the theft legitimate.